The latest issue of CAUT’s Education Review is attached and available on-line on the CAUT website. This edition provides an analysis of the current state of university finances in Canada, as well as longer-term trends in university revenues and expenditures since the beginning of the new millennium. The review addresses a number of key questions facing universities today, such as: What have been the key drivers affecting changes in revenues and expenditures? What is the share of public and private funding? What changes have occurred in the compensation of academic staff and administrators?